Wish we'd known more about it when we were looking (and offering!). I mean, surely a house with no chain is going to be worth a lot more than one in a 10 long chain where the sale has just fallen through? which is what would have had to have happened din order for a house to be in a chain at all, wouldn't it? IF indeed you get to know that at all? Though surely you'd need to be told by the EA 'If you offer on this house be aware that completion date has been set on 'x''. IS that what EAs mean by 'very committed vendor'?
We offered on a house where the owners hadn't begun looking. We're first time buyers. They've now had an offer accepted and have thus committed US to a 4 long chain. That to us, effectively 'lowers' the value of what we offered for their house, does it not? In that it isn't just the house, it's the circumstances: length of settlement, financial position of the buyers etc that all comes into play as the 'risk' varies with each one.
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When you house-hunt, are you swayed by length of chains and completion dates?
4 replies
faraday · 18/08/2009 15:24
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